Morningstar Publishes Research on Mighty River Power

Morningstar Australasia Publishes Independent Stock
Analyst Research on Mighty River
Power

AUCKLAND, 22 April 2013 —
Morningstar Australasia Pty Limited, a subsidiary of
Morningstar, Inc. (NASDAQ: MORN), today published
independent stock research on the forthcoming partial float
of Mighty River Power.

"We're pleased to be publishing
this research on the Mighty River Power float to New Zealand
investors," said Morningstar Australasia Chief Executive
Officer Anthony Serhan. "Morningstar's mission is to create
great products that help investors make better decisions,
and this research will help investors better understand the
key issues and risks associated with the share offer.
Investors should seek professional financial advice on their
personal circumstances before making a decision whether or
not to invest."

New Zealand retail investors can register
to receive a copy of the Morningstar research report at www.morningstar.com.au/869. Registration
will also entitle investors to four weeks' complimentary
Premium subscription access to www.morningstar.com.au, a
leading online destination for research on Australian and
New Zealand stocks, managed funds, and related securities,
and one hardcopy and three online complimentary copies of
Huntleys' Your Money Weekly, Australia's leading stock
investment newsletter. New Zealand financial advisers and
brokers will have access to the report through Morningstar®
Adviser Research CentreTM.

Morningstar Australasia's team
of 20 stock analysts covers around 230 New Zealand and
Australian stocks and more than 30 income securities, as
part of a team of 120 equities and credit analysts who
undertake research on around 1,700 companies and 700 debt
issuers globally. Morningstar does not charge listed
companies for the production of stock analyst research. More
information about Morningstar's equity research methodology
is available at: http://corporate.morningstar.com/au/documents/MethodologyDocuments/MethodologyPapers/Morningstar-Equities-Research-Methodology.pdfAbout Morningstar Australasia Pty Limited and
Morningstar, Inc.Morningstar Australasia Pty Limited is
a subsidiary of Morningstar, Inc., a leading provider of
independent investment research in North America, Europe,
Australia, and Asia. The company offers an extensive line of
products and services for individuals, financial advisers,
and institutions. Morningstar provides data on more than
416,000 investment offerings, including stocks, mutual
funds, and similar vehicles, along with real-time global
market data on more than nine million equities, indexes,
futures, options, commodities, and precious metals, in
addition to foreign exchange and Treasury markets.
Morningstar also offers investment management services
through its investment management subsidiaries and had
approximately US$149.0 billion in assets under advisement
and management at 31 December 2012. The company has
operations in 27
countries.

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